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G7 Pledges to Invest $600 Billion Into Infrastructure for Developing Countries
Group of Seven leaders pledged to raise $600 billion in private and public funds over five years to finance needed infrastructure in developing countries.
- Region
- Global
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The Leapfrog Opportunity in ‘Know Your Customer’ Innovation: Why Africa Needs Local, Digitized KYC Solutions
Know Your Customer (KYC) is a critical process for banks, as it enables them to validate their customers’ identities to fulfill regulatory requirements and protect against fraud. But as Timbo Drayson at OkHi explains, KYC is a big and expensive problem in Africa: For instance, in Nigeria some banks are spending up to $1 million per year to manually verify identities, and 15-30% of customers never complete these processes. He explores three key challenges to KYC in Africa, and presents some tech-driven solutions that could allow the continent to leapfrog to a new global best practice for KYC.
- Categories
- Finance, Technology
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Healthtracka Raises $1.5 Million to Accelerate Inclusive Healthcare Across Africa
Healthtracka will utilize the funding to scale its B2B2C offering where partner companies in Nigeria can deliver at-home testing to their employees and accelerate its growth beyond current reach.
- Categories
- Finance, Health Care
- Region
- Sub-Saharan Africa
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Africa-Focused Fintech Startup Fido Raises $30 Million
The funds will be used to launch new category-creating financial products in Ghana to grow the company’s customer base throughout Africa.
- Region
- Sub-Saharan Africa
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African Development Bank Group Initiative to Increase Finance for Women SMEs in Nigeria, Others
The new AfDB-funded AWIEF program aims to accelerate efforts to address gender inequality and drive inclusive economic transformation.
- Categories
- Finance
- Region
- Sub-Saharan Africa
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Press Release: U.S. International Development Finance Corporation and Gazelle Finance Launch Facility to Support Ukrainian Companies Displaced by War
The economic recovery facility will provide technical assistance to Ukrainian small and medium enterprises (SMEs) whose businesses have been negatively impacted by the war.
- Categories
- Finance
- Region
- Europe & Eurasia
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FirstBank Secures $150 Million Afreximbank Pandemic Trade Impact Mitigation Facility (PATIMFA) To Support Businesses In Nigeria
Afreximbank’s financial support will be accessible to FirstBank customers involved in manufacturing and importing healthcare-related products.
- Categories
- Coronavirus, Finance, Health Care
- Region
- Sub-Saharan Africa
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Luxembourg Ministry of Finance Appoints Schroders and BlueOrchard to Accelerate Climate Action With a Landmark Partnership
The goal is to contribute to the transition to carbon-neutral and resilient economies while achieving sustainable growth in emerging markets.
- Region
- Global
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